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November 5, 2019 5:30 am | FILED UNDER: business

PPF Group’s Net Profit Up 160%

By Petr Dubinsky Petr Kellner

PPF Group’s net profit grew 160 percent year-on-year to CZK 14.6 billion (EUR 573 million) in the first half of this year when the company earned CZK 5.6 billion (EUR 220 million) in the same period last year. The Group’s total assets increased this year by five percent to Kc1.2 trillion (EUR 47.3 billion), the company said on Monday.

 

PPF, controlled by the wealthiest Czech Petr Kellner, signed an agreement with Central European Media Enterprises (CME) a full takeover last week through subsidiaries. It has also acquired TV Nova. The transaction valued at fifty billion crowns. Approval is pending from shareholders of CME, the European Commission and national regulators countries CME operates.

 

Outside the Czech Republic, CME operates television stations in Bulgaria, Romania, Slovakia, and Slovenia.

 

PPF Group invests in a variety of industries ranging from financial services through telecommunications, biotechnology, real estate to engineering.

 

It operates in Europe, Asia, and the USA. At the end of June, it employed almost 160,000 people worldwide, of which about 15,000 are in the Czech Republic.

 

PPF Group includes, Home Credit, Air Bank, and Škoda Transportation. PPF also owns the operator O2 Czech Republic, has a stake in the telecommunications company ČD-Telematika or the internet retailer Mall Group. The Group also includes the CzechToll company, which won last year, together with the Slovak toll operator SkyToll, in a tender for the construction and operation of an electronic toll collection system in the Czech Republic.

 

PPF has its corporate ownership and management structure in the Netherlands. PPF’s holding company is PPF Group NV, based in Amsterdam.

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